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UNDERSTANDING SOCIAL IMPACT BONDS - OECD

UNDERSTANDING . SOCIAL IMPACT BONDS . OECD Working Papers should not be reported as representing the official views of the OECD or of its member countries. The opinions expressed and arguments employed are those of the authors. Working Papers describe preliminary results or research in progress by the author(s) and are published to stimulate discussion on a broad range of issues on which the OECD works. Comments on Working Papers are welcomed, and may be sent to the Centre for Entrepreneurship, SMEs, Tourism and the Local Economic Development, OECD, 2 rue Andr -Pascal, 75775 Paris Cedex 16, France. This document was prepared by Stellina Galitopoulou, Policy Analyst, and Antonella Noya, Senior Policy Analyst, at the OECD.

With this in mind and given its longstanding work in the field of social innovation and social entrepreneurship, the OECD LEED Programme has been tasked by the Ministry of , Employment, Labour ... are also known as Payment-for-Success bonds (USA) or Pay-for-Benefits bonds (Australia) (OECD, 2015; ... Based on this, the payment to the investor ...

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